Stock Market & Financial Investment News

BroadSoft spikes lower after earnings beat, big guidance cutThe company yesterday beat consensus earnings for its Q4 by 6 cents per share, but then cut its Q1 and fiscal year 2013 to well below expectations. The stock is down nearly 26% at time of writing. At the current price of $23.02, next major support is at $20.13, a monthly pivot low from last year. Next support is at $21.74. Resistance is at $25.01. Many firms cut recommendations and price targets this morning in wake of the results and estimate reductions.